The results of the world's major non-ferrous mining companies released in the first three quarters accelerated the catch-up of Zijin Mining.

SMM: a few days ago, the world's major listed non-ferrous metal mining companies have released the first three quarters of 2020 performance reports, Zijin Mining with 4.6 billion yuan of net profit, 145.5 billion yuan of total market value ranked first among domestic listed non-ferrous metal mining enterprises, listed gold mining enterprises, and has announced the performance of the forefront of the global counterparts. Since November, the market capitalization of Zijin Mining has entered the phalanx of 200 billion yuan, with a high level of more than 230 billion yuan, which is comparable to the market capitalization of the international mining giant Glencore in the same period.

In the first three quarters, despite rising gold prices and commodities such as copper, non-ferrous metal miners around the world remained generally under pressure, with profit growth mostly less than in the same period in 2019. Among them, the net profit of Barrick and Polar Gold fell by more than 30% compared with the same period last year, and the southern copper industry, first Quantum and Free Port also decreased to varying degrees, and most of the domestic profitability was basically the same as last year.

In this context, Zijin Mining adheres to the strategic advantage of "combining gold and copper minerals with other metal mining industries". The volume and prices of gold, copper and other "leading products" have risen, and their performance has increased significantly, with an increase of more than 50%. Among them, the net profit of home ownership ranks fifth among the world's major listed non-ferrous mining companies with published results, and the fourth place of major listed gold mining companies in the world. It is worth noting that Zijin Mining's net profit in the first three quarters has exceeded 2019.

At the end of the third quarter, a total of 9 global listed non-ferrous mining companies entered the "100 billion Market capitalization Club". Thanks to its high growth and market recognition, Zijin Mining leads its domestic counterparts and ranks seventh in the world. Since the beginning of the year, Zijin Mining A shares and H shares have risen 96% and 123% respectively, and the total market capitalization has doubled.

Zijin Mining currently has a number of super-large-scale world-class mines under construction, of which the Kamoa-Kakoula Copper Mine and Timok Copper and Gold Mine are advancing rapidly and are expected to be completed and put into production by the end of the second quarter of 2021. The company's copper and gold mine output and profits will maintain a high growth trend in the next two years.

Some analysts believe that the current recovery at the bottom of the global economy is expected to usher in a more obvious recovery in 2021, the price of copper and other basic metals in the "post-epidemic period" is expected to continue to rebound, and companies with high-quality resources and growth potential are expected to continue to benefit.